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Interest Rates for Money Judgments

For Complaints Filed Before June 1, 1980 [See MCL 600.6013(2)&(3)]

Judgments Based on a Written Instrument

If a written instrument has an interest rate over 6% per year, the rate specified (if legal when the instrument was signed) in the instrument shall be charged from the date of filing the complaint until date of satisfaction of judgment.

However, the interest rate after the date judgment is entered shall not exceed:

7% per year compounded annually for any period of time between date the judgment is entered and date of satisfaction of judgment which elapses before June 1, 1980.

13% per year compounded annually for any period of time between date the judgment is entered and date of satisfaction of judgment which elapses after May 31, 1980.

Other Money Judgments

From date of the complaint to June 1, 1980: 6% per year.
On or after June 1, 1980, to date of satisfaction: 12% per year compounded annually.

For Complaints Filed on or After June 1, 1980, but Before January 1, 1987
[MCL 600.6013(4)]

Judgments Based on a Written Instrument

12% per year compounded annually unless instrument had a higher legal rate. However, after date the judgment is entered, the rate shall not exceed 13% per year compounded annually.

Other Money Judgments

12% per year compounded annually from date of filing the complaint to the date of satisfaction of the judgment.

For Complaints Filed on or After January 1, 1987, but Before July 1, 2002
[MCL 600.6013(5),(6)]

Judgments Based on a Written Instrument

Except for final, non-appealable judgments as of July 1, 2001, 12% per year compounded annual unless instrument had a higher legal rate. However, after the date the judgment is entered, the rate shall not exceed 13% per year compounded annually.

Other Money Judgments

Including final, non-appealable judgments as of July 1, 2001, the interest rate shown below calculated at six month intervals from the date of filing the complaint compounded annually.

For Complaints Filed on or After January 1, 2002

Money Judgments

Except as otherwise provided in MCL 600.6013(5) and (7) and subject to MCL 600.6013(13), interest is calculated at six month intervals from the date of filing the complaint, compounded annually, as shown in the following table.

For Complaints Filed on or After July 1, 2002

Judgments Based on a Written Instrument

At the rate specified in the instrument if the rate was legal at the time the instrument was executed. If the rate in the instrument is variable, interest is fixed at the rate in effect at the time the complaint was filed. The rate under this subsection shall not exceed 13% per year compounded annually.

INTEREST RATES FOR MONEY JUDGMENTS

Effective Date	Average Certified by State Treasurer	Statutory 1%	Interest Rate

January 1, 1987	6.66 %	1 %	7.66 %
July 1, 1987	7.50 %	1 %	8.50 %
January 1, 1988	8.39 %	1 %	9.39 %
July 1, 1988	8.21 %	1 %	9.21 %
January 1, 1989	9.005 %	1 %	10.005 %
July 1, 1989	9.105 %	1 %	10.105 %
January 1, 1990	8.015 %	1 %	9.015 %
July 1, 1990	8.535 %	1 %	9.535 %
January 1, 1991	8.26 %	1 %	9.26 %
July 1, 1991	7.715 %	1 %	8.715 %
January 1, 1992	7.002 %	1 %	8.002 %
July 1, 1992	6.68 %	1 %	7.68 %
January 1, 1993	5.797 %	1 %	6.797 %
July 1, 1993	5.313 %	1 %	6.313 %
January 1, 1994	5.025 %	1 %	6.025 %
July 1, 1994	6.128 %	1 %	7.128 %
January 1, 1995	7.38 %	1 %	8.38 %
July 1, 1995	6.813 %	1 %	7.813 %
January 1, 1996	5.953 %	1 %	6.953 %
July 1, 1996	6.162 %	1 %	7.162 %
January 1, 1997	6.340 %	1 %	7.340 %
July 1, 1997	6.497 %	1 %	7.497 %
January 1, 1998	5.920 %	1 %	6.920 %
July 1, 1998	5.601 %	1 %	6.601 %
January 1, 1999	4.8335 %	1 %	5.8335 %
July 1, 1999	5.067 %	1 %	6.067 %
January 1, 2000	5.7563 %	1 %	6.7563 %
July 1, 2000	6.473 %	1 %	7.473 %
January 1, 2001	5.965 %	1 %	6.965 %
July 1, 2001	4.782 %	1 %	5.782 %
January 1, 2002	4.14 %	1 %	5.14 %
July 1, 2002	4.36 %	1 %	5.36 %
January 1, 2003	3.189 %	1 %	4.189 %
July 1, 2003	2.603 %	1 %	3.603 %
January 1, 2004	3.295 %	1 %	4.295 %
July 1, 2004	3.357 %	1 %	4.357 %
January 1, 2005	3.529 %	1 %	4.529 %
July 1, 2005	3.845 %	1 %	4.845 %
January 1, 2006	4.221 %	1 %	5.221 %

If you wish to be placed on a mailing list contact The Chief Deputy Treasurer, State of Michigan, Department of Treasury 517-373-3223.

This information is also available at http://www.michigan.gov/treasury
(click on the Treasury Quick Link entitled Revenue, Economic & Budget Data, then scroll to Economic Reports)

State Court Administrative Office, P.O. Box 30048, Lansing, Michigan 48909 (517-373-4835)

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